ATO continues to target work-related expense claims

This year the ATO is paying particular attention to a range of occupations and industries including building and construction project managers and supervisors, building and construction labourers, and sales and marketing managers.

The ATO is also looking closely at overnight travel expense claims and claims for transporting bulky tools and equipment.

Make sure you know the substantiation rules and exceptions relevant for your industry.  Where your claims are likely to be more than $300.00, you must be able to provide invoices, receipts, log books and/or diary information in support of your expense claims.  In the event of an audit of your claim by the ATO, you will be ultimately responsible for any claims made on your Tax Return, and you will be the one affected by any amended assessment if claims are denied.

Contact us if you are concerned with your work related expenses to make sure you are claiming what you are entitled to without missing out on possible other deductions specific to your industry or occupation.